Refinancing secured for Class A+ office tower in Uptown Dallas
JLL Capital Markets led financing efforts for PWC Tower at Park District
DALLAS, June 17, 2021 – JLL Capital Markets announced today that it has arranged a refinancing for PWC Tower at Park District, a 504,750-square-foot, Class A+ office tower in Dallas, Texas.
JLL worked on behalf of the borrower, MetLife Investment Management, to secure the 10-year, fixed-rate loan through Barings Real Estate.
PWC Tower at Park District is located at 2121 N. Pearl St. abutting Klyde Warren Park in Uptown Dallas. The property is part of the larger Park District mixed-use development, which offers 228 luxury apartment units, 20,406 square feet of upscale retail and restaurants, performing arts spaces and urban green space in a walkable, 24/7 environment. Park District has direct access to Interstates 35, 45 and 30, U.S. 75 and Dallas North Tollway providing connectivity to Downtown, the Harwood District, Victory Park and the Arts District as well as the greater Dallas Fort Worth metropolis.
Completed in 2018, PWC Tower at Park District has 20 stories of office space above a four-story sub-grade parking garage. The property has a variety of on-site amenities, including three restaurants, a tenant lounge, conference center, valet parking and 7,000-square-foot health club facility. At 93.3% leased, PWC Tower at Park District is home to a variety of financial, legal and professional services tenants and is anchored by PWC.
The JLL Capital Markets team representing the borrower was led by Senior Managing Director Jim Curtin.
Dallas has emerged as one of the top growth markets in the U.S. according to a recent JLL news release. The city continues to attract new residents, companies and investors from both the sales and lending community.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.
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JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.6 billion in 2020, operations in over 80 countries and a global workforce of more than 91,000 as of March 31, 2021. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.